Is Portage Bay Insurance Legit?

Spending Breakdown

How Portage Bay Insurance allocates its funds across programs, administration, and fundraising.

70%

Program Spending

Below average — room for improvement

20%

Admin Costs

Reasonable — admin costs in check

10%

Fundraising

Within typical range

How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.

How to Interpret This Report

What Red Flags Mean

Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.

What Mission Score Measures

The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.

Using This Data for Donation Decisions

Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.

Frequently Asked Questions about Portage Bay Insurance

Is Portage Bay Insurance a legitimate charity?

Based on AI analysis of IRS 990 filings, Portage Bay Insurance (EIN: 10717030) shows mixed signals. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.

Is Portage Bay Insurance a good charity to donate to?

Portage Bay Insurance has a Mission Score of 65/100. Revenue: $55.6M. Assets: $187.4M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Portage Bay Insurance?

The Employer Identification Number (EIN) for Portage Bay Insurance is 10717030. This is the unique tax ID assigned by the IRS.

What is a Mission Score?

The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.

How does Portage Bay Insurance spend its money?

Portage Bay Insurance allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Portage Bay Insurance's tax-exempt status?

You can verify Portage Bay Insurance's tax-exempt status using EIN 10717030 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.

AI Transparency Report

Portage Bay Insurance demonstrates a fluctuating financial performance over the past decade, with significant swings in revenue and expenses. For instance, in 2023, the organization reported expenses exceeding revenue by over $4.6 million ($67,193,743 in expenses vs. $62,536,564 in revenue), indicating an operating deficit. This trend of expenses often outpacing revenue is visible in several periods, such as 2022 ($52.2M expenses vs. $43.6M revenue) and 2019 ($40.4M expenses vs. $27.3M revenue). While the organization holds substantial assets, reaching $187.4 million in the latest available data, its liabilities are also consistently high, often representing a significant portion of its assets (e.g., $157 million in liabilities against $161 million in assets in 2023). This suggests a reliance on debt or other obligations to finance operations or assets.

The organization's financial health appears to be in a state of dynamic change, with periods of strong revenue growth (e.g., 2020 to 2021, revenue nearly doubled from $26M to $59M) interspersed with periods of significant deficits. The consistent reporting of 0% officer compensation across all filings suggests either a volunteer-led executive team or that executive compensation is reported under different categories, which could impact the perception of transparency regarding leadership costs. Without a detailed breakdown of functional expenses (program, administrative, fundraising), it's challenging to fully assess spending efficiency. However, the recurring operating deficits raise questions about long-term financial sustainability if not addressed.

Transparency regarding executive compensation is high, with all filings indicating 0% officer compensation. However, the lack of detailed functional expense breakdowns in the provided data limits a comprehensive assessment of spending efficiency across programs, administration, and fundraising. The significant and often growing liabilities relative to assets warrant closer examination to understand the organization's financial structure and risk profile.

Verdict: Portage Bay Insurance shows mixed signals

Red Flags

Strengths